Category Archives: Australia Post

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Australian Regulator Gives Thumbs Up for CoinZoom’s Market Leap

Australian Regulator Gives Thumbs Up for CoinZoom's Market Leap

The Australian Transaction Reports and Analysis Centre (AUSTRAC) has issued its latest cryptocurrency license, this time to US-based cryptocurrency exchange, CoinZoom.

Serving both Australian and international customers, Coinzoom can now operate within Australia and as a cryptocurrency exchange, accepting and exchanging fiat, digital assets, and any other cryptocurrency.  The platform will now over a “one-stop user experience to link their credit card, bank account, and cryptocurrency wallets”.

Australia is the most recent of the company’s Money Transmitter Licenses to be issued after Florida, Ohio, Washington, Arizona, Georgia, Iowa, Kansas, Maryland, and Oregon. The company hopes that it will soon be able to trade all over the US and is now available for trading in over 35 states. Its Australian adventure is due to kickstart in Q1 2019 offering currencies including Bitcoin, Bitcoin Cash, XRP and other top traded altcoins available on the platform, along with a fiat to crypto service.

Australia is continuing to maintain its cryptocurrency profile in the global arena, with the eastern state of Queensland largely leading the way. CoinZoom will be joining a number of already well-established cryptocurrency exchanges both in Queensland and the rest of the country with a couple of high profile blockchain-based coups already in the bag as the year draws to a close, such as the one created by Australia Post.

The postal service Down Under, Australia Post, is now enabling customers to easily access crypto exchanges through a new platform called Digital iD. Created by Australia’s postal service, the iD platform enables users to dispense with private documents such as drivers licenses and passports for initial verification, which often results in anything up to a ten-day wait for new users before they can access crypto exchange services.

 

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Australia Post Ventures Into Crypto With New Service

The postal service Down Under, Australia Post, is enabling customers to easily access crypto exchanges through a new platform called Digital iD.

The platform has been created by Australia Post as an answer to concerns about the lengthy processes of accessing crypto exchanges for the first time. The Digital iD platform enables users to dispense with private documents such as drivers’ licenses and passports for initial verification, which often results in anything up to a ten-day wait for new users.

The platform was christened by Brisbane-based crypto exchange, Digital Surge, with customers registering through Digital iD for the first time. Director, Josh Lehman, commented that the Australia Post platform was offering a much more efficient user experience and was speeding up the registration process.

Digital iD’s general manager Cameron Gough pointed out that Australia Post was simply improving on its service to its many customers, enabling a far more efficient way of sharing information with organizations and companies. He pointed out that as with using a driver’s license to enter a club or buy alcohol, simply the name and date of birth of the user should be all that’s required.

Lehman suggested that Digital Surge also has additional systems enabling instant verification of new customers. Users can now buy their cryptocurrencies instantly without recourse to providing extra personal information.

Australia has become a leader in integrating cryptocurrencies into everyday use where possible, with two companies Gobbill and exchange Cointree, recently combining to allow Australians to pay utility bills in crypto. Despite the results of a highly expensive report just released by Australia’s Digital Transformation Agency citing that blockchain was being over-hyped by vendors, it appears that the new prime minister is firmly behind new technology. Scott Morrison recently stated that the contributions of distributed ledger technology (DLT) in the financial sector have, and will, create “massive opportunities.”

Cryptocurrency investors may be heartened at the arrival of a new PM in Canberra, who as treasurer in 2016, had a hand in removing the hated double taxation on crypto assets.

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